If you’re like many people, this is the time of year that finds you most enthusiastic about giving back and helping those less fortunate. Here’s how to make the most of this year’s round of charitable donations as detailed by registered investment advisory firm, HCR Wealth Advisors.

Is Stock a Better Choice Than Cash?

Don’t make the mistake of thinking you’re limited to cash when it comes to how you give back this holiday season. Stock donations make wonderful alternative options for a number of reasons. In fact, depending on your financial goals, they may even make better choices. According to HCR Wealth Advisors, the benefits include the following.

  • Donating stock instead of selling it to cover a cash donation lets you avoid the potential tax liability associated with selling.
  • Donating a stock lets you remove the associated tax liability from your portfolio altogether.
  • Your stock donation may be tax deductible. Consult with a financial expert for information specific to your stock, company, or goals.
  • You’re free to reapply your cash to other purposes that may be more beneficial to your overall financial goals.

Because of the above benefits and others like them, choosing to donate stock over cash often allows generous donors to make bigger contributions as well, so it’s definitely a smart choice to consider for those interested in making their donations go as far as possible.


Is Donating Stock Right for You?

If you’re unsure whether donating stock instead of cash is the right choice for you and your company this holiday season, it may be wise to consult with the right RIA firm before making your final decision. Choose a team of professionals (like HCR Wealth Advisors) that specializes in servicing high net worth individuals and assisting them in making the smartest possible choices when it comes to their finances. Planning is the key to making more of your annual charitable giving, and an expert can help you determine the best options for your unique situation.

This article is provided for informational purposes only and should not be interpreted as investment advice.